Aramark (NYSE:ARMK) Shares Bought by Quest Partners LLC

Quest Partners LLC lifted its position in shares of Aramark (NYSE:ARMK) by 3,617,700.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,178 shares of the company’s stock after buying an additional 36,177 shares during the quarter. Quest Partners LLC’s holdings in Aramark were worth $1,401,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Huntington National Bank raised its position in Aramark by 100.3% during the third quarter. Huntington National Bank now owns 681 shares of the company’s stock worth $26,000 after acquiring an additional 341 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Aramark during the 3rd quarter worth approximately $28,000. UMB Bank n.a. raised its position in shares of Aramark by 360.1% during the 3rd quarter. UMB Bank n.a. now owns 773 shares of the company’s stock worth $30,000 after purchasing an additional 605 shares during the last quarter. Friedenthal Financial purchased a new stake in Aramark in the 3rd quarter valued at approximately $52,000. Finally, GAMMA Investing LLC lifted its stake in Aramark by 319.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock valued at $57,000 after buying an additional 1,277 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Robert W. Baird boosted their price target on Aramark from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. StockNews.com upgraded shares of Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Morgan Stanley lifted their price target on shares of Aramark from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. The Goldman Sachs Group upped their price objective on shares of Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, UBS Group boosted their price target on Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Aramark has a consensus rating of “Moderate Buy” and a consensus target price of $42.23.

Aramark Stock Performance

NYSE:ARMK opened at $37.70 on Wednesday. Aramark has a twelve month low of $26.58 and a twelve month high of $42.04. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of 38.08 and a beta of 1.62. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42. The firm’s fifty day simple moving average is $38.27 and its 200 day simple moving average is $35.33.

Aramark (NYSE:ARMK) last issued its earnings results on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.46 billion. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. As a group, equities research analysts expect that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.001 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.00 dividend on an annualized basis and a dividend yield of 0.01%. Aramark’s dividend payout ratio is currently 38.38%.

Aramark Company Profile

Aramark provides food and facilities services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through two segments, Food and Support Services United States, and Food and Support Services International. The company offers food-related managed services, including dining, catering, food service management, and convenience-oriented retail services; non-clinical food and food-related support services, such as patient food and nutrition, retail food, environmental services, and procurement services; and plant operations and maintenance, custodial/housekeeping, energy management, grounds keeping, and capital project management services.